Understanding Health InsuranceWhat is Coinsurance?

Coinsurance is the percentage of medical expenses shared by you and your insurance company after you have reached your deductible.

It’s important to understand terms like coinsurance in order to fully understand how much your insurance plan is going to cost you. Coinsurance is the percentage of the medical expenses shared between you and your insurance company after you’ve reached your deductible amount, or the set amount that you must pay before your coverage kicks in. After you’ve hit your deductible, you and the insurance company share the costs in that ratio until you reach your out-of-pocket maximum, after which the insurance company will pay 100% of the costs.